Baxter International @ Year Highs

Published on Thursday, 01 November 2012 12:34 Written by TradersHuddle Wire

New York, November 1st (TradersHuddle.com) - Shares of Baxter International, Inc. (NYSE:BAX) booked a new 52 week high today by trading above $63.05, traders are definitely monitoring Baxter's price action to see if this move attracts further buying into the stock.

Baxter International Inc. (NYSE:BAX) develops, manufactures, and markets products and technologies related to hemophilia, immune disorders, infectious diseases, kidney disease, trauma and other chronic medical conditions. The healthcare products are used by hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors' offices, and research laboratories.

Baxter International is currently trading 1.88% versus its previous trading session close, and it has calculated support and resistance at $49.73 and $61.21 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading higher by 1.04% from its previous trading close, which means that Baxter International stock is outperforming the overall market.